What Recession? Consumers Are Spending, Raising Outlook. (CNBC)

[Nye Bevan]

Despite all the handwringing, the U.S. consumer is spending and as a result, growth in the third quarter is looking a bit better than economists had been expecting.

September's retail sales came in at a surprising 1.1 percent gain — better than the 0.7 percent expected — and the best showing in 11 months. There were also revisions to July and August sales, with August now showing a 0.3 percent gain from a previous unchanged. The gains were broad based, with a 3.6 percent gain in motor vehicle sales, a 1.2 percent gain in gasoline sales and 1.3 percent gain in apparel sales. Without autos and gasoline, the September gain was 0.5 percent.

Several economists are raising third quarter growth forecasts as a result.

"The fear of recession recedes when you see a retail sales report like this," said Credit Suisse economist Jonathan Basile.

http://www.cnbc.com/id/44906873

[WI_DEM]

1. That's great, now if jobs could begin to be created!

[dkf]

2. When waiting for a restaurant table at the local mall this occurs to me quite often.

Then again we haven't been hit very bad here, which is why housing is still outrageous.

[Rageneau]

3. In the Smokies, campsites are full to overflowing. People are traveling and spending

Of course, maybe the campsites are full because people can't afford motels, except the motels were pretty full, too.